Author: The Daily Hodl

A crypto strategist known for making timely altcoin calls thinks it is within the realm of possibility for XRP to his massive price target. Pseudonymous analyst Credible tells his 434,700 followers on the social media platform X that a new all-time high (ATH) for XRP against Bitcoin (XRP/BTC) is not a “matter of if but when.” But the trader highlights that the road to a new all-time high for XRP/BTC won’t come easy as the pair still needs to overcome two stiff resistance levels. “The red zone is major resistance – odds are we find some resistance there on this…

Fundstrat managing partner Tom Lee still thinks the markets have room to run following explosive gains after Donald Trump’s US presidential election victory earlier this month. Lee, who also serves as Fundstrat’s head of research, says in a new interview with CNBC that he thinks the “Trump trade is still intact” even though the stock market has pulled back in recent days. “I think most of the major indices have pulled back to what would be technically viewed by our technician Mark Newton as support. So the NASDAQ is on the support line. S&P did a 60% retrace of its…

Seasoned trader Peter Brandt believes that top memecoin Dogecoin’s (DOGE) price action as of late looks incredibly bullish. Brandt tells his 751,800 followers on the social media platform X that DOGE has broken out of two technical patterns on the weekly chart this year. The veteran trader shares a chart suggesting that DOGE has cleared the resistance levels of a descending channel and an inverse head-and-shoulders pattern. “Super strong chart.” A descending pattern is typically viewed as a bearish pattern unless an asset shatters the structure’s diagonal resistance. Meanwhile, an inverse head-and-shoulders structure is considered a bullish reversal pattern, suggesting…

Popular crypto analyst Benjamin Cowen thinks the $100,000 Bitcoin price point could usher in a shift in focus from BTC to altcoins. Cowen notes in a new interview with David Lin that Bitcoin’s Fear and Greed Index, which tracks market sentiment over time with values ranging from 0 to 100, just surged past 90, which indicates “extreme greed” in the crypto market. High values in the Fear and Greed Index can signal a potential price correction. Predicts Cowen, “My guess is that there will be a period where [Bitcoin] dominance goes down, but there’s also a good chance… it might…

A closely followed crypto strategist believes that top memecoin Dogecoin (DOGE) may be gearing up for an explosive surge. Analyst Ali Martinez tells his 80,000 followers on the social media platform X that DOGE has more upside potential based on the level of public interest relative to its current price level. He uses Google search trends to gauge the level of interest for the top memecoin by market cap. “I read people saying Dogecoin will not go higher because of ‘market cap,’ ‘sell the news,’ ‘better memes.’ Well, when you look at the interest in DOGE over time, it isn’t…

A recent ruling from a California court has implications for decentralized autonomous organizations (DAOs), especially those involved in Ethereum (ETH) liquid staking. A California court ruled today that Lido DAO, which manages the Lido liquid staking protocol, is classified as a general partnership under California law, meaning its members could be held legally liable for the organization’s actions. The case was brought to the courts by Andrew Samuels, an investor in Lido DAO’s native tokens (LDO), who asserted that the tokens should be legally regarded as unregistered securities. US Judge Vince Chhabria’s ruling confirmed the notion that Lido DAO operates…

Two Solana (SOL)-based altcoins are rallying amid sudden support from the South Korean crypto exchange Bithumb. Bithumb announced spot trading support starting on Tuesday for memecoin PONKE (PONKE) and automated market maker (AMM) protocol Raydium (RAY). Amid the news, monkey-themed PONKE has shot up more than 7% in the last 24 hours, trading for $0.77 at time of writing. The memecoin is up more than 90% in the last 30 days. With a market cap of $424.4 million, PONKE is the 198th largest crypto project. PONKE also recently gained spot trading support on Binance, which triggered more than a 2,000%…

The venture capitalist Arthur Cheong is calling attention to one decentralized exchange (DEX) altcoin he thinks is primed for a bullish trajectory. The DeFiance Capital CEO, citing data from the analytics firm Nansen, points out to his 180,800 followers on the social media platform X that Coinbase Ventures has been heavily investing in Aerodrome Finance (AERO). “Coinbase Ventures historically do six-figure venture deals and seldom went beyond $1 million investments until recently. And now we have the largest-ever investment made on a liquid token (>$20 million) bought from the open market like every other market participant. Think about why they…

The CEO of analytics firm CryptoQuant says that Bitcoin has officially entered into a state of euphoria as BTC continues to hold above the $90,000 mark. CryptoQuant chief executive Ki Young Ju says that BTC is entering a “euphoric phase” that began shortly after the US Presidential election. “Bitcoin euphoria is here. 99.3% of UTXOs (unspent output in transactions) are in profit now. Everyone’s happy. This euphoric phase typically lasts 3–12 months (except Nov ’21 bull trap). This started 2 weeks ago. Shorting now could be either catching the top—or shorting at the bottom of a parabolic bull run.” BTC…

Veteran macro investor Luke Gromen believes Bitcoin (BTC) is set to outperform gold even even if it doesn’t have the backing of the US government. In a video posted on the Forest for the Trees YouTube channel, Gromen says Bitcoin has a huge leg up against gold due to its fundamentals. But while the macro expert is more bullish on BTC, he notes that investors should consider Bitcoin’s tendency for wild price swings when allocating capital to the top crypto asset by market cap. “Support or no support from the government, I would expect Bitcoin to rise versus gold over…